19:32:21 EDT Wed 24 Apr 2024
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or Name
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Balmoral Resources Ltd
Symbol BAR
Shares Issued 110,381,521
Close 2015-05-08 C$ 0.91
Market Cap C$ 100,447,184
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Kwantes says why to buy Balmoral

2015-05-08 21:08 ET - In the News

James Kwantes, in the May 1, 2015, edition of Resource Opportunities, says why to buy Balmoral Resources Ltd., recently 94 cents. Lawrence Roulston, a previous editor of the newsletter, said buy Balmoral three times between Oct. 19, 2012, and May 26, 2014, at prices ranging from 55 cents to $1.14. Assuming a $1,000 investment for each of the three buys, the $3,000 position is now worth $3,532. Last month, the company released assays from the first nine holes of a drilling program on its Martiniere property in Quebec. Mr. Kwantes says the company revealed "some nice high-grade hits," including hole MDE-15-73, where it drilled 4.28 grams per tonne gold over 53.78 metres. The editor says Detour Gold Corp. is the natural suitor to acquire Balmoral, but since Detour recently turned in a less-than-impressive quarterly report the timing might not be right. He then says if Detour is not interested, other majors active in the Abitibi greenstone belt must be paying attention. Balmoral's shares increased 10 cents the day that it released its assays from Martiniere, but the stock quickly settled back to the 90-cent level. The company also recently completed a winter drilling program at its Grasset Horizon 3; the results are pending.

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